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Updated over 9 years ago on . Most recent reply
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Is this judgement/lien strategy viable?
I recently found a guru offering a course about this strategy and while I will not be giving him any cash, the strategy has intrigued me as I've never heard of it.
He says to find properties that are on the market or under contract and run them through the county court to see if there are any judgments on them. Then contact the creditor of the judgement, negotiate a discounted price for it, and get it under a purchase option contact.
When the property closes, send your option contract to the title company, who takes the full payment for the judgement from the sale of the property and pays the creditor the price you negotiated, and you take the balance.
Assuming this is possible, what else needs to be taken into account?